Donating to charity is not only meaningful—it can also lower your tax bill. Here are 5 quick tips to make the most of your charitable contributions:
Get a Receipt
Always get a receipt or acknowledgment letter from the nonprofit—it’s required to claim a deduction.
Track Your Donations
Keep records like receipts, bank statements, or canceled checks showing the date, amount, and charity name.
Know Your Limits
The IRS sets limits based on your income and the type of gift (cash vs. property). Don’t guess—plan.
Bundle Contributions
Giving more in one year instead of spreading donations out may push your deductions over the standard threshold.
Give Non-Cash Gifts
Donating appreciated assets like stock can offer double benefits—support your cause and avoid capital gains tax.
Smart giving benefits everyone. Want to make sure you’re getting the full tax benefit?
Contact Jennifer Walker at Walker Tax Relief.
Serving Northville, MI and clients nationwide.
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